I completely agree. The swings are more significant than the price levels.
I personally don't use "psychological" price levels at all...
ZigZag Point & Figure charts
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- PebbleTrader
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How about this formula for ZigZag:
1) The 2 SMA is pushing higher.
2) A candle closes & the 2 SMA is turns lower (first one from the pivot).
3) There is a low breakout on the candle where the SMA turned lower.
4) Measure for minimum retracement.
Seems to work well without having to mess around with ZigZag inputs.
1) The 2 SMA is pushing higher.
2) A candle closes & the 2 SMA is turns lower (first one from the pivot).
3) There is a low breakout on the candle where the SMA turned lower.
4) Measure for minimum retracement.
Seems to work well without having to mess around with ZigZag inputs.
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Thank you for your support.
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Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
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